StockNews.com Initiates Coverage on Martin Midstream Partners (NASDAQ:MMLP)

StockNews.com assumed coverage on shares of Martin Midstream Partners (NASDAQ:MMLP) in a research note released on Friday. The firm issued a buy rating on the pipeline company’s stock.

Martin Midstream Partners Trading Up 0.5 %

NASDAQ MMLP opened at $3.99 on Friday. The business’s 50 day moving average is $3.80 and its two-hundred day moving average is $3.51. Martin Midstream Partners has a 12-month low of $2.04 and a 12-month high of $4.13. The stock has a market capitalization of $155.61 million, a price-to-earnings ratio of 39.90 and a beta of 2.10.

Martin Midstream Partners (NASDAQ:MMLP) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.05). Martin Midstream Partners had a negative return on equity of 6.93% and a net margin of 0.59%. The firm had revenue of $170.93 million for the quarter, compared to analysts’ expectations of $176.43 million. During the same period last year, the firm earned ($0.03) EPS. Equities analysts forecast that Martin Midstream Partners will post 0.16 earnings per share for the current fiscal year.

Martin Midstream Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.005 per share. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Thursday, November 7th. Martin Midstream Partners’s dividend payout ratio is presently 20.00%.

Institutional Trading of Martin Midstream Partners

An institutional investor recently bought a new position in Martin Midstream Partners stock. Acadian Asset Management LLC purchased a new stake in Martin Midstream Partners L.P. (NASDAQ:MMLP) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 19,959 shares of the pipeline company’s stock, valued at approximately $50,000. Acadian Asset Management LLC owned approximately 0.05% of Martin Midstream Partners at the end of the most recent quarter. 34.90% of the stock is currently owned by institutional investors and hedge funds.

Martin Midstream Partners Company Profile

Martin Midstream Partners L.P., together with its subsidiaries, provides terminalling, processing, storage, and packaging services for petroleum products and by-products primarily in the United States. The company operates in four segments: Terminalling and Storage, Transportation, Sulfur Services, and Specialty Products.